Nuvei said Wednesday that its president and CEO, Philip Fayer, had acquired more shares of the company.
According to the Montreal-based payment technology company, Mr. Fayer acquired 22,151 subordinate voting shares following the settlement of vested restricted stock units.
Nuvei clarified that Mr. Fayer now had beneficial ownership or control over, or exercised control over, 27,857,328 multiple voting shares, representing 36.62% of the multiple voting shares issued and outstanding, and 22,151 subordinate voting shares.
He also holds equity-based awards allowing him to acquire up to 3,417,108 subordinate voting shares.
Mr. Fayer is the founder of Nuvei.
Nuvei shares fell $1.01, or 4.6%, on Wednesday on the Toronto Stock Exchange, where they closed at $21.12.